PGIM Ultra Short Bond ETF (NYSEARCA:PULS) Sees Large Volume Increase – Time to Buy?

PGIM Ultra Short Bond ETF (NYSEARCA:PULS) shares saw unusually-high trading volume on Friday . Approximately 13,730,942 shares traded hands during mid-day trading, an increase of 402% from the previous session’s volume of 2,733,880 shares.The stock last traded at $49.58 and had previously closed at $49.58.

PGIM Ultra Short Bond ETF Price Performance

The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of -23.83 and a beta of 0.02. The business has a 50 day simple moving average of $49.62 and a 200-day simple moving average of $49.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in PGIM Ultra Short Bond ETF by 4.3% in the 4th quarter. JPMorgan Chase & Co. now owns 39,410,722 shares of the company’s stock worth $1,954,378,000 after purchasing an additional 1,631,142 shares during the period. Morgan Stanley boosted its stake in PGIM Ultra Short Bond ETF by 1.2% in the 4th quarter. Morgan Stanley now owns 16,551,738 shares of the company’s stock worth $820,801,000 after purchasing an additional 203,799 shares during the period. LPL Financial LLC boosted its stake in PGIM Ultra Short Bond ETF by 8.5% in the 4th quarter. LPL Financial LLC now owns 11,148,152 shares of the company’s stock worth $552,837,000 after purchasing an additional 869,510 shares during the period. Bank of America Corp DE boosted its stake in PGIM Ultra Short Bond ETF by 2.0% in the 3rd quarter. Bank of America Corp DE now owns 11,139,193 shares of the company’s stock worth $555,066,000 after purchasing an additional 215,246 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in PGIM Ultra Short Bond ETF by 4.8% in the 4th quarter. Wells Fargo & Company MN now owns 7,774,354 shares of the company’s stock worth $385,530,000 after purchasing an additional 356,553 shares during the period. 72.71% of the stock is owned by institutional investors and hedge funds.

About PGIM Ultra Short Bond ETF

The PGIM Ultra Short Bond ETF (PULS) is an exchange-traded fund that is based on the ICE BofAML USD Libor 3 Month index. The fund is an actively managed bond fund that specializes in short-term, high-credit-quality debt securities denominated in US dollars. The fund seeks total return that is consistent with capital preservation. PULS was launched on Apr 5, 2018 and is managed by PGIM.